P.S.U. Calculates Its Losses over Three-year Period

Amid talks of a looming salary cut for teachers and public officers, the Public Service Union has proceeded to painstakingly calculate the losses that would be incurred by its membership at various levels over the three-year period in question.  Their charts made the rounds on Facebook and WhatsApp today. According to Vice President Dean Flowers, the quantum of losses is greater than what government ministers would be giving up over the same length of time.

On the Phone: Dean Flowers, Vice President, P.S.U.

“The only bit of information that I can speak to as it relates to the table which clearly depicts how the public officer is able to calculate the quantum of loss that they would suffer over the remaining life in the public service whenever they give up an increment.  And so, I believe that may be one of the documents you’re looking at.  In the examples that we shared with members, you would see that the pay scale is highlighted and attached to that pay scale would also include the increment that that level of employee would receive.  If that employee gives up his or her increment what needs to be taken into consideration is the remaining years for which that individual will not be carrying that increment with him or her and so we simply take that value and multiply it by his or her remaining years of service to get the amount of money that will be lost in that specific fiscal year.  Thereafter you would have to do the same thing for each subsequent year while at the same time reducing the remaining years in the service.”